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Bulgarian Government May Seek Lukoil Oil Product Exports

OIL

Bulgaria's sole refinery, LUKOIL Neftochim Burgas may have to be shut down if the Russian backed business is not given government support to keep exporting according to chief executive Ilshat Sharafutdinov.

  • The Bulgarian caretaker government plans to allow the refinery to continue importing Russian crude once the ban takes effect because of an EU waiver and also give it permission to export its production.
  • The prior government wanted the refinery to keep refined products solely for the domestic Bulgarian market.
  • Sharafutdinov added that the refinery was likely to process about 7.1 million tonnes of crude oil this year and that it exports about 50% of its final products.

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